Getting to know about blockchain, bitcoin and other crypto currency today

How far does Bitcoin go on shooting up, and where does other types of crypto currency goes? Introducing Blockchain.

I wrote this article last 7 November 2016. I updated it today 19 May 2017

A blockchain is a core component of the digital currency bitcoin—conceived in 2008 and first implemented in 2009—where it serves as the public ledger for all transactions. Definition from Wikipedia

In the bitcoin case, every compatible client is able to connect to the network, send new transactions to it, verify transactions, and take part in the competition to create new blocks. The competition creating new blocks is known as mining.

The “blockchain” today is like the internet in the early 1990s…

and the investment implications are just as enormous.
The blockchain is a decentralized, digital ledger.
It’s decentralized nature has made it impossible to “hack”…
since no one is able to alter the ledger in all the places
it resides at the same time.
The internet changed the way we record and exchange information.
It made the flow of communication across the world
faster and more efficient.
Trillions in value were created.
Likewise, the blockchain is changing the way we record and exchange value.
It will make transactions across the world faster and more efficient.
Trillions in value will be created.
Yet, it’s so early in the game, many people still don’t even know about the blockchain…or how they can profit from it.
And that’s creating wide-open opportunities for those in the know…
If we still can remember, the internet was the same in its infancy.
Many investors didn’t see its significance—or even know it existed—in the beginning.
Then web browsers came along and the internet was quickly on its way to mass adoption.
Early investors made fortunes.
Today, the blockchain is starting to gain traction.
Eventually, these online distributed databases will be as ubiquitous as the World Wide Web.
And a new group of early investors will get rich like those at the
start of the Internet Age.A Decentralized Database.
The blockchain is maintained by thousands of independent computers.
These computers are constantly “talking” to each other to ensure the ledger is always valid.
By storing data across its network, the blockchain eliminates the risk that comes with information being held in a central location.
This “decentralized” network is much more secure than databases with central supervision.

How it works?

it’s more Efficient for hackers to try and break into one central site holding millions in assets than millions of individual computers holding hundreds or thousands.
The blockchain is also faster, more secure, and more efficient than centralized networks.
That makes it the perfect technology on which to reinvent the financial system and the trillions of dollars that move around it daily.A New Network of Value.
Here are eight ways the blockchain will forever change
how we use money:

Verifying:

The blockchain will eliminate the need for you to pay an intermediary
(like a notary) to verify transactions.

Transferring:

The blockchain will make it easier for you to make payments,
transfer money, or buy and sell goods.
You’ll move your money faster and cheaper with the blockchain than
with traditional wire services like Western Union or MoneyGram.

Storing:

The blockchain will let you store money digitally instead of using a
bank, money market fund, or government security.
It could potentially make checking and savings accounts obsolete.

Lending:

You will be able to make, secure, settle, and trade loans on the
blockchain faster and easier than today.

Exchanging:

Every day, trillions of dollars in financial assets are traded between parties.
The blockchain can cut settlement times from weeks and days to minutes and seconds.

Funding:

Raising money now requires third parties such as investment bankers, venture capitalists, and lawyers, among others.
The blockchain will automate this process and eliminate the need for third parties. More people will have access to capital than ever before.

Insuring:

The blockchain supports decentralized models for insurance
that can make risk management more efficient.
This will lower premiums overall.

Accounting:

The blockchain makes bookkeeping virtually automatic and instantaneous while keeping it 100% transparent.
As you can see, the blockchain will revolutionize how you use money.
But what we don’t know is that the blockchain’s impact will extend well beyond finance…..

INTRODUCING THE CRYPTOCURRENCY

BITCOIN, ETHERIUM, LITECOIN ? these are the most popular crypto currency today.

Here is an example of Bitcoin values in comparison to USD.

7 of November 2016, the time I wrote this..

1 bitcoin is equivalent to USD 716.64 ( I wrote this article back in November 2016. Not even a year yet and the value today of tremendously increase. The most influential people who buys bitcoin are coming from China.
The question is would you believe it or not? Would you participate it?

Today’s rate of Bitcoin to a USD, 19 May 2017.

Getting to know

BITCOIN –

A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
“bitcoin has become a hot commodity among speculators”
a unit of bitcoin.
“bitcoins can be used for online transactions between individuals”

As I am now into Bitcoin, I am getting to understand how it works and how it is easy, fast and safe in dealing with by the click of a keyboard or a mouse on your computer. The most part I love bitcoin is that I save the cost of sending money to anywhere in the world like the remittance center charges.

An example of that is my latest transaction to one of bitcoin wallet. [see below]. I use this app to receive money and pay money inside the Philippines.

It is super easy banking in your bitcoin from a source of income on your online business or you can add funds by Bank transfer or 7 Eleven and other forms paying or adding money to your account which all can be send via your dashboard.

You can pay bills, shop online , pay for loans anywhere in the world even this company is base in the Philippines.

Therefore, we should start building and investing into bitcoin and bitcoin if you can see .. it is been included in the currency exchange data.

What if??? what if in few months or a year from now…. 1 bitcoin is equivalent to 1,000.00 USD? Will you thank me? (my statement is happening now as I update this article 19 May 2017).

Why not invest today? But hey!! only do it when there is money that you can consider to put it aside, not that you have nothing to eat in a running days alright??

How can you do this? well, leave a comment and I can share it to you personally if not, try this one……

Which I am currently working with this right now. Be aware though that there are millions of scams on the internet. It is somehow hard to recognise. But investing into bitcoin or other investment always has RISKS.